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- Herausgeber: John Wiley & Sons
- Kategorie: Fachliteratur
- Serie: The Fast Forward MBA Series
- Sprache: Englisch
The all-inclusive guide to exceptional project management that is trusted by hundreds of thousands of readers--now updated and revised The Fast Forward MBA in Project Management: The Comprehensive, Easy to Read Handbook for Beginners and Pros, 6th Edition is a comprehensive guide to real-world project management methods, tools, and techniques. Practical, easy-to-use, and deeply thorough, this book gives you the answers you need now. You'll find cutting-edge ideas and hard-won wisdom of one of the field's leading experts, delivered in short, lively segments that address common management issues. Brief descriptions of important concepts, tips on real-world applications, and compact case studies illustrate the most sought-after skills and pitfalls you should watch out for. This sixth edition now includes: * A brand-new chapter on project quality * A new chapter on managing media, entertainment, and creative projects * A new chapter on the project manager's #1 priority: leadership * A new chapter with the most current practices in Change Management * Current PMP certification study tips Readers of The Fast Forward MBA in Project Management also receive access to new video resources available at the author's website. The book teaches readers how to manage and deliver projects on-time and on-budget by applying the practical strategies and concrete solutions found within. Whether the challenge is finding the right project sponsor, clarifying project objectives, or setting realistic schedules and budget projections, The Fast Forward MBA in Project Management shows you what you need to know, the best way to do it, and what to watch out for along the way.
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Table of Contents
COVER
TITLE PAGE
COPYRIGHT
DEDICATION
ACKNOWLEDGMENTS
ABOUT THE AUTHOR
PREFACE
PART 1: Introduction
CHAPTER 1: Project Management: A Platform for Innovation
INTRODUCTION
A TIMELESS LEADERSHIP TOOLSET
PROJECT MANAGEMENT IS KEEPING PACE WITH GLOBAL CHANGE
PROJECT MANAGEMENT IS AN ESSENTIAL LEADERSHIP SKILL SET
SUCCESSFUL PROJECTS DELIVER VALUE
THE ART AND SCIENCE OF PROJECT LEADERSHIP
A PRACTICAL CHECKLIST FOR SUCCESSFUL PROJECTS: HOW THIS BOOK WILL HELP YOU
BEYOND THE BOOK: TOOLS FOR APPLICATION AND CONTINUOUS LEARNING
CHAPTER 2: Project Leadership: People Before Process
INTRODUCTION
THE PROJECT LEADERSHIP CHALLENGE
BUILD A TEAM CULTURE SUITED TO A JOURNEY OF DISCOVERY
TEMPORARY TEAMS FORM BEFORE THEY PERFORM
BUILD PERSONAL AUTHORITY AND INFLUENCE
PROJECT LEADERS NEED POLITICAL SAVVY
YOUR DECISION TO LEAD
END POINT
CHAPTER 3: Foundation Principles of Project Management
INTRODUCTION
PROJECTS REQUIRE PROJECT MANAGEMENT
HOW A PROJECT IS DEFINED
THE CHALLENGE OF MANAGING PROJECTS
THE EVOLUTION OF A DISCIPLINE
THE DEFINITION OF PROJECT SUCCESS
PROJECT MANAGEMENT FUNCTIONS
PROJECT LIFE CYCLE
ORGANIZING FOR PROJECTS
PROJECT MANAGERS ARE LEADERS
END POINT
CHAPTER 4: Agile and Waterfall: Choose a Development Process
INTRODUCTION
DEFINING VALUE: A NEW LENS FOR JUDGING PROJECTS INFORMS THE DEVELOPMENT PROCESS
CHOOSE A PRODUCT DEVELOPMENT PROCESS THAT DELIVERS VALUE
BEST PRACTICES FOR CAPTURING REQUIREMENTS ARE INTEGRATED INTO A PRODUCT DEVELOPMENT PROCESS
A DEVELOPMENT PROCESS IS
NOT
PROJECT MANAGEMENT
WATERFALL OR AGILE: WHICH DELIVERS THE BEST VALUE?
COMMON AGILE PRACTICES
COMMON AGILE BENEFITS
CHOOSING BETWEEN AGILE AND WATERFALL DEVELOPMENT
INNOVATION PROJECTS EXPERIMENT TO DISCOVER DESIRABILITY AND VIABILITY
PRODUCT DEVELOPMENT METHODS INFLUENCE PROJECT MANAGEMENT
END POINT
PART 2: Defining the Project
CHAPTER 5: Project Initiation: Turn a Problem or Opportunity into a Business Case
INTRODUCTION
PROJECT INITIATION'S PLACE IN THE PROJECT LIFE CYCLE
A MINI‐ANALYSIS PHASE OR A COMPLETE PROJECT
THE ROLE OF A PROJECT MANAGER IN PROJECT INITIATION
A BUSINESS CASE DEFINES THE FUTURE BUSINESS VALUE
BUSINESS RISK AND PROJECT RISK
MANAGING REQUIREMENTS IS TIGHTLY LINKED TO PROJECT INITIATION
COMMON PRINCIPLES FOR PROJECT INITIATION
PROJECT SELECTION AND PRIORITIZATION
BASIC BUSINESS CASE CONTENT
DESIGNING A REALISTIC INITIATION PROCESS
PROJECT LEADERSHIP: FOCUS ON VALUE
END POINT
FAST FOUNDATION IN PROJECT MANAGEMENT
CHAPTER 6: Engage Your Stakeholders and Win Their Cooperation
INTRODUCTION
STAKEHOLDER FOCUS THROUGHOUT THE LIFE OF THE PROJECT
STAKEHOLDER MANAGEMENT IS RISK MANAGEMENT FOR PEOPLE
STAKEHOLDER ROLES ON EVERY PROJECT
STAKEHOLDER ROLES: PROJECT MANAGER
STAKEHOLDER ROLES: PROJECT TEAM
STAKEHOLDER ROLES: MANAGEMENT
STAKEHOLDER ROLES: THE CUSTOMER
AFFECTED STAKEHOLDERS CAN MAKE CRUCIAL CONTRIBUTIONS
ENGAGE AFFECTED STAKEHOLDERS
LEAD THE STAKEHOLDERS
END POINT
FAST FOUNDATION IN PROJECT MANAGEMENT
CHAPTER 7: Write the Rules: Manage Expectations and Define Success
INTRODUCTION
PROJECT RULES ARE THE FOUNDATION
PUBLISH A PROJECT CHARTER
WRITE A PROJECT CHARTER
RESPONSIBILITY MATRIX
END POINT
FAST FOUNDATION IN PROJECT MANAGEMENT
PART 3: The Planning Process
CHAPTER 8: Risk Management: Minimize the Threats to Your Project
INTRODUCTION
ALL PROJECT MANAGEMENT IS RISK MANAGEMENT
THE RISK MANAGEMENT FRAMEWORK
STEP ONE: IDENTIFY THE RISKS
STEP TWO: ANALYZE AND PRIORITIZE THE RISKS
STEP THREE: DEVELOP RESPONSE PLANS
STEP FOUR: ESTABLISH CONTINGENCY AND RESERVE
STEP FIVE: CONTINUOUS RISK MANAGEMENT
UNEXPECTED LEADERSHIP
END POINT
FAST FOUNDATION IN PROJECT MANAGEMENT
CHAPTER 9: A Work Breakdown Structure Makes a Project Manageable
INTRODUCTION
DEFINING THE WORK BREAKDOWN STRUCTURE
BUILDING A WORK BREAKDOWN STRUCTURE
CRITERIA FOR A SUCCESSFUL WORK BREAKDOWN STRUCTURE
WORK PACKAGE SIZE
WHEN VERY SMALL TASKS MAKE SENSE
PLANNING FOR QUALITY
BREAKING DOWN LARGE PROGRAMS
CONTRACTORS OR VENDORS CAN PROVIDE A WBS
END POINT
CHAPTER 10: Realistic Scheduling
INTRODUCTION
PLANNING OVERVIEW
PLANNING STEP TWO: IDENTIFY TASK RELATIONSHIPS
PLANNING STEP THREE: ESTIMATE WORK PACKAGES
PLANNING STEP FOUR: CALCULATE AN INITIAL SCHEDULE
PLANNING STEP FIVE: ASSIGN AND LEVEL RESOURCES
SMALL PROJECTS NEED SMALLER PLANS
END POINT
FAST FOUNDATION IN PROJECT MANAGEMENT
CHAPTER 11: Manage Agile Development with Scrum
INTRODUCTION
SCRUM IS A FRAMEWORK
SCRUM AT A GLANCE
MANAGING THE PRODUCT BACKLOG
MAKE THE PLAN VISIBLE: TASK BOARDS AND BURNDOWN CHARTS
KEY FACTORS FOR SCRUM TO BE EFFECTIVE
SCRUM AND PROJECT MANAGEMENT
END POINT
CHAPTER 12: The Art and Science of Accurate Estimating
INTRODUCTION
ESTIMATING FUNDAMENTALS
ESTIMATING TECHNIQUES
BUILDING THE DETAILED BUDGET ESTIMATE
GENERATING THE CASH FLOW SCHEDULE
END POINT
FAST FOUNDATION IN PROJECT MANAGEMENT
CHAPTER 13: Balance the Trade‐Off Among Cost, Schedule, and Scope
INTRODUCTION
THREE LEVELS OF BALANCING A PROJECT
BALANCING AT THE PROJECT LEVEL
BALANCING AT THE BUSINESS CASE LEVEL
BALANCING AT THE ENTERPRISE LEVEL
END POINT
CHAPTER 14: Managing Creative Projects: Insights from Media and Entertainment
INTRODUCTION
LESSONS FROM FILM, TELEVISION, AND VIDEO PRODUCTION
LESSONS FROM CREATING VIDEO GAMES
LESSONS FROM MUSIC PRODUCTION
LEARNING TO MANAGE MEDIA, ENTERTAINMENT, TECHNOLOGY, AND ART (M.E.T.A.) PROJECTS
END POINT
PART 4: Controlling the Project
CHAPTER 15: Build a High‐Performance Project Team
INTRODUCTION
A FRAMEWORK FOR BUILDING HIGH‐PERFORMANCE TEAMS
LEADERSHIP RESPONSIBILITIES
BUILDING A POSITIVE TEAM CULTURE
GROUND RULES
TEAM IDENTITY
TEAM LISTENING SKILLS
MEETING MANAGEMENT
COLLABORATIVE PROBLEM‐SOLVING
PROBLEM ANALYSIS
DECISION MODES
CONFLICT MANAGEMENT
CONTINUOUS LEARNING
JOB SATISFACTION
END POINT
FAST FOUNDATION IN PROJECT MANAGEMENT
CHAPTER 16: Communicate with Project Stakeholders
INTRODUCTION
EMBRACE YOUR ROLE AS A LEADER
CREATING A COMMUNICATION PLAN
COMMUNICATING WITHIN THE PROJECT TEAM
VIRTUAL TEAMS BENEFIT FROM FORMAL COMMUNICATION
CLOSEOUT REPORTING
END POINT
FAST FOUNDATION IN PROJECT MANAGEMENT
CHAPTER 17: Change Management: Engage Your Stakeholders to Maximize Value
INTRODUCTION
WHY THE PEOPLE SIDE MATTERS
OUTCOMES DESIRED: INDIVIDUAL CHANGE MANAGEMENT USING ADKAR
ACTIONS REQUIRED: ORGANIZATIONAL CHANGE MANAGEMENT
ROLES: WHO DOES CHANGE MANAGEMENT
END POINT
CHAPTER 18: Control Scope to Deliver Value
INTRODUCTION
THE CHANGE CONTROL PROCESS
CONFIGURATION MANAGEMENT
CHANGE CONTROL IS ESSENTIAL FOR MANAGING EXPECTATIONS
END POINT
FAST FOUNDATION IN PROJECT MANAGEMENT
CHAPTER 19: Measure Progress
INTRODUCTION
MEASURING SCHEDULE PERFORMANCE
MEASURING COST PERFORMANCE
EARNED VALUE REPORTING
ESCALATION THRESHOLDS
COST AND SCHEDULE BASELINES
END POINT
CHAPTER 20: Solve Common Project Problems
INTRODUCTION
RESPONSIBILITY BEYOND YOUR AUTHORITY
DISASTER RECOVERY
WHEN THE CUSTOMER DELAYS THE PROJECT
THE IMPOSSIBLE DREAM
FIGHTING FIRES
MANAGING VOLUNTEERS
END POINT
PART 5: Advancing Your Practice of Project Management
CHAPTER 21: Enterprise Project Management: Align Projects with Strategy
INTRODUCTION
DEFINING ENTERPRISE PROJECT MANAGEMENT
THREE TIERS OF MANAGEMENT WITHIN EPM: PORTFOLIO, PROGRAM, PROJECT
THE FOUR COMPONENTS OF EPM: PROCESS, PEOPLE, TECHNOLOGY, PMO
ESTABLISH CONSISTENT EPM PROCESSES
TECHNOLOGY ENABLES EPM PROCESSES
THE PEOPLE WHO DELIVER PROJECTS
SUPPORT PROJECT MANAGEMENT: THE PROJECT MANAGEMENT OFFICE
END POINT
CHAPTER 22: Requirements: Describe the Solution Target
INTRODUCTION
REQUIREMENTS AND PROJECT MANAGEMENT ARE INTIMATELY CONNECTED
REQUIREMENT TYPES ILLUSTRATE THE EVOLVING PRODUCT VISION
REQUIREMENTS SCOPE AND PROCESSES
REQUIREMENTS DEVELOPMENT ACTIVITIES
REQUIREMENTS MANAGEMENT ACTIVITIES
THE AUDIENCE FOR REQUIREMENTS
END POINT
CHAPTER 23: Use the Quality Discipline to Hit the Target
INTRODUCTION
THE COST OF QUALITY
BUILD THE QUALITY DISCIPLINE INTO A PROJECT
QUALITY ASSURANCE AND QUALITY CONTROL
QUALITY PRACTICES IMPROVE REQUIREMENTS
THE QUALITY DISCIPLINE IMPROVES PROCESSES
QUALITY IS AN ORGANIZATIONAL COMMITMENT
END POINT
CHAPTER 24: Pass the PMP Exam
INTRODUCTION
REQUIREMENTS TO EARN THE PMP
TOP 10 STUDY TIPS FOR THE PMP EXAM
END POINT
APPENDIX A: Forms Available Online
APPENDIX B: The Detailed Planning Model
NOTES
CHAPTER 2
CHAPTER 4
CHAPTER 6
CHAPTER 8
CHAPTER 13
CHAPTER 14
CHAPTER 15
CHAPTER 20
CHAPTER 22
CHAPTER 23
INDEX
END USER LICENSE AGREEMENT
List of Tables
Chapter 4
TABLE 4.1 Pharmaceutical Development Process
TABLE 4.2 Capital Project Development Process
TABLE 4.3 Website Iterations Produce Valuable Increments
Chapter 7
TABLE 7.1 Sample Scope Description
TABLE 7.2 Responsibility Matrix for Project Management Training Rollout
Chapter 8
TABLE 8.1 Example: Risk Profile Questions
TABLE 8.2 Risk Analysis Example 1
TABLE 8.3 Risk Analysis Example 2
TABLE 8.4 Risk Beyond the Project's Control
TABLE 8.5 Examples: Monitor Risks Using a Risk Register
Chapter 10
TABLE 10.1 Home Landscape Project Work Package Estimates
TABLE 10.2 Work Package Estimate: Example 1
TABLE 10.3 Work Package Estimates: Example 2
TABLE 10.4 Work Package Estimates: Example 3
TABLE 10.5 Work Package Estimates: Example 4
Chapter 12
TABLE 12.1 Artificially Inflating Project Estimates Can Hurt The Bottom Line
TABLE 12.2 Apportioning Supports Annual Budget Development
TABLE 12.3 A Sprint Estimating Scale
Chapter 14
TABLE 14.1 A Common Film, Television, and Video Development Life Cycle
TABLE 14.2 A Common Game Development Life Cycle
TABLE 14.3 A Common Music Production Life Cycle
TABLE 14.4 The Eclectic Product Development (EPD) Life Cycle
Chapter 15
TABLE 15.1 Examples of Ground Rules
Chapter 16
TABLE 16.1 Communication Plan
TABLE 16.2 Open Task Report (OTR)
Chapter 18
TABLE 18.1 Issue Log
Chapter 19
TABLE 19.1 Track Actual Costs for Each Work Package
Chapter 21
TABLE 21.1 Potential Standard Deliverables by Project Phase
TABLE 21.2 Project Office Forms and Responsibilities
TABLE 21.3 Portfolio Valuation Criteria
List of Illustrations
Chapter 2
FIGURE 2.1
Project managers lead a diverse group of stakeholders but have li
...
Chapter 3
FIGURE 3.1
The project environment dictates skill requirements for project m
...
FIGURE 3.2
The three project management functions
.
FIGURE 3.3
Standard project life cycle
.
FIGURE 3.4
Product development life cycle
.
FIGURE 3.5
A product development life cycle can contain many projects
.
Chapter 4
FIGURE 4.1
System development life cycle (SDLC) portrayed as a waterfall.
FIGURE 4.2
Each big snowball is an iteration.
FIGURE 4.3
Iterative patterns within agile.
Chapter 5
FIGURE 5.1
Problems and ideas start out as being vaguely defined. The initia
...
FIGURE 5.2
Requirement types evolve throughout the development life cycle. E
...
FIGURE 5.3
Project initiation begins with divergent thinking to expand our u
...
FIGURE 5.4
The LogFrame integrates the tactical details of project execution
...
FIGURE 5.5
Reading the LogFrame from the bottom up establishes the critical
...
FIGURE 5.6
Logical Framework project plan to improve the purchasing/receivin
...
Chapter 6
FIGURE 6.1
The initial exploration reveals stakeholders who are engaged in t
...
Chapter 7
FIGURE 7.1
Example: Organization chart.
Chapter 8
FIGURE 8.1
Risk management influences the project plan and changes assumptio
...
FIGURE 8.2
Project risk management.
FIGURE 8.3
Probability/impact matrix.
Chapter 9
FIGURE 9.1
Detailed planning model.
FIGURE 9.2
Work breakdown structure in chart form.
FIGURE 9.3
Work breakdown structure in outline form.
FIGURE 9.4
There is more than one way to organize tasks on a project.
FIGURE 9.5
WBS with no summary tasks. The Widget Release 4.0 Project has the
...
FIGURE 9.6
Evaluation rule 1: The WBS must be a top‐down decomposition.
...
FIGURE 9.7
WBS evaluation rule 2.
FIGURE 9.8
Project management on the WBS.
FIGURE 9.9
Partial WBS from a fighter aircraft program.
Chapter 10
FIGURE 10.1
Network diagram developed from a predecessor table.
FIGURE 10.2
Milestones can show external dependencies.
FIGURE 10.3
Task relationships.
FIGURE 10.4
Calculating a schedule.
FIGURE 10.5
Time‐scaled network. This contains the same network information
...
FIGURE 10.6
Home landscape project network with initial schedule data.
FIGURE 10.7
Managing float.
FIGURE 10.8
Negative float. When imposed deadlines result in negative float,
...
FIGURE 10.9
Gantt chart for home landscape project.
FIGURE 10.10
Time‐scaled network for home landscape project. This time‐scale
...
FIGURE 10.11
Gantt chart with resource spreadsheet for home landscape projec
...
FIGURE 10.12
Gantt chart with resource‐leveled schedule for home landscape p
...
FIGURE 10.13
Resource histogram.
Chapter 11
FIGURE 11.1
A task board illustrates the sprint backlog and work in process.
...
FIGURE 11.2
Burndown chart.
FIGURE 11.3
A sprint with added tasks.
Chapter 12
FIGURE 12.1
Phased estimating.
FIGURE 12.2
Work breakdown structure as a basis for apportioning.
FIGURE 12.3
Apportioning works with phased estimating.
FIGURE 12.4
Bottom‐up estimating.
FIGURE 12.5
Calculated labor and equipment costs using the project plan with
...
FIGURE 12.6
Calculate a cash flow schedule using the project plan with resou
...
FIGURE 12.7
Tynet's network services project life cycle.
Chapter 13
FIGURE 13.1
Top‐down design and design synchronization points.
FIGURE 13.2
Component construction phase includes frequent unit and integrat
...
FIGURE 13.3
Reduce cost or schedule by reducing project scope. The work brea
...
FIGURE 13.4
Fast‐tracking a baseball stadium.
Chapter 14
FIGURE 14.1
Emphasizing the critical activities and deliverables of each pha
...
FIGURE 14.2
Fusion PM Methodology and Fusion PM Methodology with Kanban boar
...
Chapter 15
FIGURE 15.1
High‐performance team framework.
FIGURE 15.2
Problem analysis steps.
Chapter 17
FIGURE 17.1
Integrate change management activities into the project timeline
...
Chapter 18
FIGURE 18.1
The essential change control process.
Chapter 19
FIGURE 19.1
Gantt chart with schedule progress bars. All progress bars are b
...
FIGURE 19.2
Simple progress completion chart.
FIGURE 19.3
Planned versus actual cost over time. During the first three mon
...
FIGURE 19.4
Cost and schedule performance chart. Graphing the cost and sched
...
FIGURE 19.5
Measuring cost and schedule performance with earned value.
FIGURE 19.6
Earned value curves. This project is under budget and behind sch
...
FIGURE 19.7
Escalation thresholds.
FIGURE 19.8
Compare the baseline schedule to the current schedule.
Chapter 21
FIGURE 21.1
The enterprise project management (EPM) model.
FIGURE 21.2
Project portfolio information.
FIGURE 21.3
Program management office. Top tiers of a program organizational
...
FIGURE 21.4
Project methodology.
FIGURE 21.5
Project portfolio chart.
Chapter 22
FIGURE 22.1
Evolution of requirement types.
FIGURE 22.2
Requirements activities throughout the product development life
...
Appendix B
FIGURE A.1
Detailed planning model.
FIGURE A.2
Develop a work breakdown structure, sequence the tasks, and estim
...
FIGURE A.3
Step Four: Calculate an initial schedule.
FIGURE A.4A
Gantt chart with resource spreadsheet for home landscape project
...
FIGURE A.4B
(Continued)
FIGURE A.5A
Step Five: Assign and level resources.
FIGURE A.5B
(Continued)
FIGURE A.6A
Step Six: Develop budget.
FIGURE A.6B
(Continued)
Guide
Cover Page
Table of Contents
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THE FAST FORWARD MBA IN PROJECT MANAGEMENT
SIXTH EDITION
THE COMPREHENSIVE, EASY-TO-READ HANDBOOK FOR BEGINNERS AND PROS
ERIC VERZUH
Copyright © 2021 by Eric Verzuh. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
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For Marlene
ACKNOWLEDGMENTS
Project management remains a dynamic field, moving forward through the accumulated effort of many thousands of professionals who face new, interesting challenges and then generously share their lessons learned during conferences, at trade shows, through associations, and over coffee with friends.
I have the privilege to both travel with the project management movement and to record the journey. To all of the project teams and project leaders who continue to innovate and move the state of the art forward, I wish to thank you for your example and the freedom with which you share what you learn.
There are, of course, particular friends and colleagues who made a direct contribution to this sixth edition, and to whom I owe particular recognition.
Tim Creasey and Karen Ball enthusiastically accepted my invitation to contribute their expertise on change management, the practices that motivate employees to change their behavior in support of project goals. Tim, Karen, and their colleagues at Prosci are building a body of research in this field and are tireless advocates of the value of change management on projects. It is an honor to have their cutting‐edge practices included in this edition.
Lester Frederick challenged me to think outside the normal boundaries of this book and was a tireless collaborator as we created a new chapter on the project management insights that can be taken from music, film and TV, and video game projects. His amazing network of accomplished industry veterans generously offered their insights, which was a great learning experience for me. Thank you to Brandon Egerton, Cordy Rierson, Grant Shonkwiler, Jonathan Feist, DJ Swivel, Stewart Lyons, Jeremy Schmidt, Matt Scura, Michael Cardwell, and Heather Chandler. Lester and I also thank these Full Sail University faculty, staff, students, and alumni for their support and expertise: Heather Torres, Dave Franko, Stephanie Dawson, Jay Noble, Victor Herrera da Silva, and Jacob Herring.
Mandy Dietz epitomizes the synthesis required to effectively lead projects. She long ago mastered the science of project management, and she is expert at integrating additional concepts from process management and leadership. Mandy contributed her considerable expertise on collecting and managing requirements to make a substantial revision to the requirements chapter and was a valuable sounding board on the new chapter on quality.
Donna McEwen has a gift for translating her substantial leadership experience into practical advice in a manner that is constantly engaging. She is a trusted sounding board and creative collaborator. Donna ensured the new content on leadership, quality, and agile versus waterfall development stayed relevant to project managers.
Tony Johnson has generously contributed his expertise on the PMP Exam since the third edition of this book. I appreciate his friendship and collaboration.
Spencer Lamoreaux is a gifted facilitator and IT leader for a major technology company. He offered his considerable expertise on agile practices as a valuable sounding board.
What could be more satisfying than for a father to learn from his children? I wish to thank Dan and Jack for sharing their professional experiences, which influenced the chapters on agile and leadership.
At the risk of missing other friends and colleagues who spent time discussing this edition, I wish to recognize several who made valuable suggestions: Ernie Baker, Dale Christenson, Vicki Legman, Andrew Schlam, Renee Adair, Mark Caudle, Tim Cermak, Karl Croswhite, Clint Gradin, Bill Holt, Franklin Sarigumba, Bill Warner, and Steve Weidner.
Richard Narramore and Mike Campbell, my editors at John Wiley & Sons, are energetic supporters. Twenty‐three years ago, an editor at Wiley took a risk on an unpublished author. I am very grateful for the opportunity that Wiley provides and the partnership that continues.
My wife, Marlene Kissler, again played the critical role of sounding board and editor. This book is readable because she reads it first.
My parents, Julie Welle Verzuh and Jim Verzuh, enriched my life with their love and friendship. I miss them.
ABOUT THE AUTHOR
ERIC VERZUH
Eric Verzuh is president of The Versatile Company, a project management training and consulting firm based in Seattle, Washington.
His company trains thousands of professionals every year in the fundamentals of successful project management, including how to pass the Project Management Professional (PMP®) Exam and how get the most out of Microsoft Project. Versatile's consulting practice focuses on helping firms establish consistent, practical methods for managing their projects and implementing Microsoft's enterprise project management solution. The company's client list includes large corporations as well as government agencies, small companies, and nonprofit organizations.
Verzuh has been certified as a Project Management Professional (PMP) by the Project Management Institute. He is a founding board member of Project Management Training Alliance (PMTA) and a founding board member of PM4NGOs, a nonprofit organization committed to promoting project management in developing countries. His other publications include articles, conference papers, and The Portable MBA in Project Management (2003), also published by John Wiley & Sons, Inc.
Verzuh can be reached via his company's website at www.VersatileCompany.com, or you can e‐mail Eric directly at [email protected].
PREFACE
Global turbulence from a pandemic, economic upheaval, revolutionary innovation, and environmental crisis underscore the need for both pragmatic and visionary leadership in a world of constant change. Work is increasingly accomplished through temporary networks. More than ever, organizations need leaders who can synthesize facts and assumptions to set a direction. Project management, a set of critical thinking and communication tools, is the right discipline for this moment.
This sixth edition retains the book's primary focus on excellence in project management, including a new chapter on the project manager's primary responsibility as a leader of diverse stakeholders.
Two other new chapters address the disciplines of quality and change management. Both of these topics have their own certifications and extensive bodies of established theory. Both should be familiar to any working project manager.
The actual practice of project management continues to evolve. Agile concepts and frameworks have had a substantial impact and are included in many chapters. A new chapter draws insights from film, music, and video game projects, capturing the contribution of project management to these highly creative efforts.
Two chapters have been substantially revised to reflect current practice and to make them more practical and easier to read. Chapter 4 addresses agile and waterfall development and Chapter 22 addresses collecting and managing requirements.
A substantial new feature is the inclusion of instructional videos. Many of these animated videos are specifically directed at the reader considering Project Management Professional certification.
The Project Management Institute has changed the focus and format of their Guide to the Project Management Body of Knowledge to emphasize principles rather than detailed processes. The principles in their seventh‐edition guide are consistent with this book.
I have been teaching and writing on project management for over 30 years. My experience is that project managers are optimists, pragmatic problem solvers, and team‐oriented servant leaders. It continues to be an honor to serve this community.
CHAPTER 1Project Management: A Platform for Innovation
INTRODUCTION
Projects dominate our headlines.
A pandemic, economic upheaval, and an environmental crisis demand innovative thinking, courageous leadership, and globally orchestrated action. Technological innovation is a relentless engine of growth and destruction.
The need to respond to a global pandemic has forced organizations large and small to react quickly, learn rapidly, and make critical decisions based on shifting circumstances. Every response is a project.
Innovation in energy production has changed assumptions about how cars, buildings, and factories are powered. Installing solar panels and windmills, scientific research, closing out‐of‐date power plants, and launching electric car companies are all projects.
Projects dominate our workplace.
Our project‐driven workforce repairs freeways, releases social media apps, makes films, remodels our houses, and searches for medicines and therapies to protect and heal us. Businesses shift supply chains. Nonprofits open below‐market rental housing to ease economic pressures on working families. We are constantly transforming our global civilization in tiny increments. One project at a time.
Innovation, more than ever before, is a must‐have capability for every organization. We do not all need to be inventors, scientists, and software developers to innovate. Throughout this book, innovation means bringing a fresh solution to a problem that matters to people. Innovation is always built on projects.
Project management provides critical thinking and communication tools to navigate the ever‐increasing avalanche of change that surrounds us.
A TIMELESS LEADERSHIP TOOLSET
Project management is not new. The pyramids and aqueducts of antiquity certainly required the coordination and planning skills of a project manager. While supervising the building of St. Peter's Basilica in Rome, Michelangelo experienced all the torments of a modern‐day project manager: incomplete specifications, insufficient labor, unsure funding, and a powerful customer. Michelangelo was the exception in his day. Now, 500 years later, the challenge of leading projects affects every level of every organization.
To understand how deeply our workplace benefits from project management, we must first understand projects. Projects are all the work we do one time. Whether it's designing an aircraft, building a bakery display case, or creating a business logo, every project produces an outcome and every project has a beginning and an end. Fundamental to understanding the importance of projects is realizing that each one produces something unique. Designing and tooling up to build a new electric car is a project (actually a lot of projects), but manufacturing thousands of electric cars is not. Manufacturing and other repetitive processes are defined as ongoing operations.
The challenge of managing operations is to become highly proficient at known tasks. The challenge of managing projects is to lead a disparate group of people to make good decisions, over and over, as they make something new. That's why project management is really a set of critical thinking and communication tools. These tools help us with a range of leadership duties:
Communicating with team members and stakeholders from project conception through completion.
Estimating the effort, cost, and time it will take to deliver a project, and evaluating whether the benefits of the project will justify the forecasted costs.
Rapidly building cohesive project teams that are highly productive even though team members have not worked together before.
Coordinating the actions of a diverse workforce, assembled specifically for a project, to achieve the goal for the least possible expense and in a reasonable time frame.
Accounting for progress and productivity to provide accurate forecasts of project completion dates and budget amounts.
Managing the varying staffing needs that result from continually running multiple projects concurrently, all of which share a common pool of personnel.
Project management, when done well, is a triumph of human cooperation and critical thinking. The tools of project management help people make rational decisions based on objective information. Of course, it is commonplace for experts with good intentions to disagree. That only makes project management all the more valuable and increases the importance of sound decision‐making techniques.
In a world filled with challenges and opportunities, the project management toolset helps us navigate uncertainty and turn dreams into realities.
PROJECT MANAGEMENT IS KEEPING PACE WITH GLOBAL CHANGE
Project management is a discipline—a set of methods, theories, and techniques that have evolved to manage the complexities of work that is unique and temporary. Even as the discipline continues to evolve, it can claim a proven track record. Millions of projects around the globe routinely rely on the concepts found in this and other project management books. The Project Management Institute (PMI), headquartered in the United States; the International Project Management Association (IPMA), serving Europe, Asia, and Africa; and other standards organizations have formalized this discipline over the past 60 years.
The proliferation of projects has led to substantial growth in the number of people who call themselves project managers, and project manager is now a common role in nearly every kind of organization. The related phenomenon is the rise of the certified project manager. PMI and IPMA both offer professional certification programs to formally recognize skills, knowledge, or both.
Examples of how project management is spreading to new parts of our global workplace can be found in the profiles at the end of this chapter on two organizations, OrthoSpot and PM4NGOs. The first is a business startup, and the second is a nonprofit that is promoting the use of project management in developing countries by aid agencies. In both cases, these organizations have used the proven project management framework as a starting point, and then adjusted it to meet the needs of their unique audience.
PROJECT MANAGEMENT IS AN ESSENTIAL LEADERSHIP SKILL SET
Given the importance of thriving in a project‐driven world, the people who lead projects—who turn visions of what might be into tangible products and services—stand out. But it has been proven that project managers alone can't carry the burden of creating mature organizations whose project management capability produces a strategic advantage. In fact, as the pace of change continues to increase, leaders at every level must be able to speak the language of project management.
Executives
select projects. They also stand behind projects as champions or sponsors, overseeing project progress and providing advice to the project manager and team. Every major project or program has an executive who is ultimately accountable for its success. Executives are also accountable for the project portfolio, the collection of all active projects that have been selected as the best way to achieve the organization's goals.
Functional managers
sponsor, lead, or oversee projects within their departments. They make decisions about project priorities as they assign their staff to project teams.
Team members
who understand project management make the entire project run more smoothly. They make the project manager more effective because they make better estimates, identify risks, and participate in planning and problem‐solving.
A related trend is the growth of part‐time project leaders. These tend to be senior staff and functional managers tasked with leading smaller or part‐time projects. They don't want the project manager title or career path. But they still need to clarify goals, make practical plans, and communicate regularly. These people view project management as one more set of tools that make them effective leaders.
How does project management fit into your personal career goals? In an economy that is pushing each of us to learn and adapt, how much change do you expect in your job over the next decade? If the new normal is continuous transformation, isn't the ability to navigate new territory the most enduring skill?
SUCCESSFUL PROJECTS DELIVER VALUE
Twenty‐five years ago, the project management community could agree that a successful project was on time, on budget, and delivered to specification. But times change. Too many projects have “delivered to specification” without actually being valuable to the organization that paid for them. The most common offenders have been expensive information technology (IT) projects that produced reports or systems that didn't make a positive difference to the business, either because the system was rejected by the users or it didn't solve the real problem driving the project. But IT isn't alone. Any project team that focuses only on delivering the specified product or service but loses sight of the context of the project can be guilty of failing to deliver value.
A more current definition of a successful project is one that delivers business value. The implication is that the project manager should understand the business case—why was this project approved? It has also broadened the perception of who is a project stakeholder. After all, if a solution to my part of the organization causes pain to your part of the organization, have we made things better or worse?
Another aspect of delivering value is the realization that if our solutions are not really accepted and used, they probably aren't achieving their potential impact. Therefore, the practice of change management has a growing role on project teams. As the term is used here, change management refers to assisting affected people to change their behaviors in support of the project goal. This should not be confused with change control, which addresses controlling changes to scope, schedule, budget, and other previous agreements.
When project managers see their job as leading change that delivers business value, they see the bigger picture and increase their contribution to their employer and to all stakeholders.
THE ART AND SCIENCE OF PROJECT LEADERSHIP
Project management has been called both an art and a science. In these pages, you will see how mastering the science of project management provides a foundation for the art of leadership. The necessary skills are common to both. There is no question that the best project managers are also outstanding leaders. They have vision, they motivate, they bring people together, and, most of all, they accomplish great things.
Indeed, when we characterize the attributes of the great project managers, their skill can seem mysterious and magical, as though the good ones are born and not made. Fortunately, that is not the case. Through over 30 years of listening to many thousands of professionals and observing the most successful project leaders, it has become very clear to me that project management is a skill that can be taught and learned. I've learned that, far from being magical or mysterious, certain characteristics are consistently found on successful projects in every industry. Boiled down, they consist of these five project success factors that drive the design of this book:
Agreement among the project team, customers, and management on the goals of the project
. The importance of having clear goals seems so obvious that it's almost embarrassing to bring it up. Yet thousands of projects at this very moment do not have clear goals, and the results of this fuzziness can be devastating.
A plan that shows an overall path and clear responsibilities and that can be used to measure progress during the project
. Since every project is unique, the only way to understand and execute it efficiently is with a plan. Not only does a good plan show who is responsible for what and when, but it also demonstrates what is possible. It contains the details for estimating the people, money, equipment, and materials necessary to get the job done. And because the plan is the basis for measuring progress, it can also act as an early warning system for tasks that are late or over budget.
Constant, effective communication among everyone involved in the project
. People—not plans or software—complete projects. A successful project is a result of people agreeing on goals and then meeting them. From concept through implementation, success depends on the ability to come to agreement, coordinate action, recognize and solve problems, and react to changes.
A controlled scope
. Success is in the eye of the beholder. This is why, from the very start, the successful project manager will ensure that everyone involved understands exactly what can be accomplished within a given time frame and budget. This is called managing stakeholder expectations, and it is an important, ongoing task throughout the project, especially if changes are introduced. Stakeholders must not only agree to the original scope of the project, but must also understand any changes in scope.
Management support
. Project managers rarely have enough formal authority to make all the decisions it takes to complete a project. They rely on people in traditional management roles to supply people and equipment, make policy decisions, and remove organizational obstacles. Even the most enthusiastic, creative, motivational project leaders will stumble if they do not enlist the people with authority to act on their behalf.
Far from being mysterious, these five essential factors can be achieved through the diligent, persistent use of the science of project management. That is not to say that success comes without art—on the contrary, art is immensely important. Art encompasses political and interpersonal skills, making creative decisions when complete information is lacking, knowing intuitively when to delegate work, and more. But learning the basic science is requisite to practicing this art.
That's important for all of us, because it means that success at leading projects is not reserved for the lucky few born with the skills; rather, it is a discipline that can be taught and learned.
Processes Are Not Leadership
Project management can be viewed as a science composed of techniques and methods, and even software. It can also be viewed as the ability to inspire a team to achievement, to make tough choices, and to act with integrity when mistakes are made. In fact, project management can be all of these things. To grow, we must recognize the difference between knowing the science and practicing the art.
The art of project leadership embodies skills that are gained through experience, sensitivity, and a thorough knowledge of the basic science of management. Learning the basics of project management can be your first step on the road to becoming a skilled and inspiring leader. While developing all these skills will take time, the basic science can be learned fairly quickly; able students can read and practice the lessons in this book on their very next project.
A PRACTICAL CHECKLIST FOR SUCCESSFUL PROJECTS: HOW THIS BOOK WILL HELP YOU
This book is written for people who need to understand the time‐tested techniques of project management and how those methods are being put to use on projects every day. It is for people who need a complete foundation in the discipline, whether they are recent graduates, experienced executives, mid‐level managers, or team members wanting to be team leaders. This book is primarily about how: how to get agreement on goals and how to reach them, how to enlist team members and project sponsors, how to negotiate schedules and budgets, and how to reduce risk and increase the odds of success.
The five project success factors introduced earlier in this chapter drive the content in this book. As the workplace has become more project‐driven, other factors that influence projects also need to be addressed. The following checklist expands on the five factors and shows you where to look in this book for practical advice.
Agreement among the project team, customers, and management on the goals of the project.
It is apparent why this project is worthwhile. The benefits that will be realized from the project have been balanced against the costs, both tangible and intangible, and we understand the urgency.
Chapter
5
addresses the minimum content of a project proposal
.
We know who needs to be satisfied and who will judge the success of the project.
Chapter
6
explains who our stakeholders are and how to find them
.
What will be delivered, and the actions required to complete the project have been described at both the macro and micro level.
Chapter
7
explains how the project charter establishes agreements on a common goal
.
Chapter
9
introduces the work breakdown structure, the detailed view of tasks and deliverables
.
A plan that shows an overall path and clear responsibilities and that can be used to measure progress during the project.
We have planned for the unexpected and for factors beyond our control.
Chapter
8
demonstrates how risk management techniques reveal potential threats and opportunities, allowing the team to proactively
influence or prepare for these future events.
The schedule is constructed using a detailed understanding of the work to be performed and the sequence of relationships between the tasks.
Chapters
9
and
10
use a step‐by‐step approach to breaking down a project and building a realistic schedule
.
The schedule is based on work reasonably assigned and the people responsible for the work have not been overburdened.
Chapter
10
provides task estimating guidelines and an explanation of resource leveling, the process of evaluating a schedule to find unrealistic assignments of work in any time period. Look for tips on communicating clear task assignments in
Chapter
16
.
Progress against the plan is measured with a steady rhythm.
Chapter
11
provides an overview of the Scrum method of planning and monitoring a project
.
Chapter
19
contains formulas for calculating the progress against cost and schedule baselines
.
Constant, effective communication among everyone involved in the project.
We know who will be actively engaged in the project to accomplish the work and make decisions.
Chapter
6
gives us stakeholder identification techniques, and
Chapter
7
describes the RACI matrix that clarifies project roles
.
Our project team has the trust and commitment to tell each other the truth and to work together to solve problems.
The attributes of cohesive project teams are described in
Chapter
15
.
We are prepared to assist those who will be affected by the changes that the project creates so that they contribute to achieving the project's goals.
Chapter
17
introduces the discipline of change management
.
Our project infrastructure contains risk logs, issue logs, visible schedules, and other practical methods that team members can easily access and update.
Chapter
16
focuses on team communication
.
We have established a rhythm of project reporting that is appropriate to the size and pace of the project and will keep our team and management synchronized.
Chapters
16
and
18
present a communication plan and guidelines for reporting status graphically. Every technique in this book promotes more effective communication among project stakeholders!
A controlled scope.
A practical approach to documenting and managing requirements has been adopted, so we deliver on the real business need.
Chapter
22
explains how requirements are collected, prioritized, and managed
.
We know who must approve changes to schedule and cost, and what authority the team has for accepting changes to specifications and scope. The people who will approve changes have agreed to the process, so that change requests will be processed in a timely manner.
Chapter
18
describes the steps for maintaining the proper balance between what is delivered, how much it costs, and when it arrives
.
Cost and schedule estimates and commitments were created using reliable models developed from similar past projects.
Read about techniques for making accurate estimates in
Chapter
12
.
Chapter
21
presents the role of a Project Management Office in creating repeatable project management practices
.
We have realistic expectations about the potential for deviating from the plan when our assumptions turn out to be wrong.
Chapter
13
is full of strategies for catching up, cutting costs, and shifting the balance between cost, schedule, and scope
.
Chapter
20
contains classic project problems and reasonable responses
.
Management support.
The project sponsor is accountable for project success and has planned to meet with the project manager on a regular basis to provide support and guidance.
Learn about the role and responsibility of a project sponsor in
Chapter
6
.
The people with the right skills and availability have been assigned to the project.
Functional managers are responsible for assigning people to the project, which is discussed in
Chapter
6
. The planning process in
Chapter
10
, particularly task estimating, reveals the necessary skills
.
Our sponsor and management team have met with the customer and other key stakeholders. All are committed to regular communication.
Chapter
16
covers the project communication plan and team kickoff
.
Escalation thresholds are in place to raise issues and risks up to the proper level of management. We know our allowance for cost and schedule variance before higher‐level management will intervene.
Chapter
19
shows how cost and schedule variance boundaries create escalation thresholds
.
Strategic alignment drives prioritization.
This project is prioritized and sequenced relative to other projects in the firm, and therefore has been assigned resources that are sufficiently available to complete the project.
Chapters
5
and
21
address multi‐project management factors, including portfolio management
.
Technical competence and mature development practices.
Our team has up‐to‐date skills.
The techniques in
Chapters
9
,
10
, and
12
on planning and estimating reveal the skills that are required to perform the work
.
We use industry best practices to clarify our customers' goals and to design, build, test, and deliver great products and services.
Read about traditional and iterative development life cycles and the benefits of a consistent development approach in
Chapter
4
. Quality principles that help us deliver to requirements are explained in
Chapter
23
.
This checklist is available as a downloadable form at www.VersatileCompany.com/FastForwardPM.
BEYOND THE BOOK: TOOLS FOR APPLICATION AND CONTINUOUS LEARNING
In addition to practical advice applying proven techniques, this book has several features that make it easier to apply this advice:
Access to webinars describing new developments in project management or expanding on topics within the book.
Downloadable forms of common project management deliverables.
Tips for using Microsoft Project, the most popular project management software application.
Practice questions, video tutorials, and advice for passing the Project Management Institute's Project Management Professional exam.
Webinars to Explore New Topics or Learn in a New Way
Books are one medium for learning. Live, interactive webinars with the author and his team provide another medium to stay up to date on new trends or explore a new twist on topics within the book. Be notified of free webinars by registering for updates at www.VersatileCompany.com/FastForwardPM.
Downloadable Forms for Putting the Discipline to Work
The distance from concept to application can be shortened for all of us by using standard forms and templates. This book contains more than 20 checklists, forms, and templates for managing your own projects. We've titled these forms the Fast Foundation in Project Management, because together they form a basic project management methodology. The forms are listed in Appendix B and can be downloaded from www.VersatileCompany.com/FastForwardPM. Look for them at the end of Chapters 5, 6, 7, 8, 10, 16, and 18. Since these forms were first included in the second edition of this book, many firms have used them, adjusted them to fit their own projects, and adopted them as their own standards.
Microsoft Project Best Practice Tips
There are many effective project management software tools in the market, but by far the most common is Microsoft Project. Video tutorials for getting started with Project are part of the videos available at www.VersatileCompany.com/FastForwardPM.
PMP Exam Preparation Guidelines and Test Questions
Many project managers benefit from earning PMI's Project Management Professional certification. One requirement for earning this certification is passing a lengthy exam. As an aid in exam preparation, sample exam questions are provided at the end of most chapters. These exam questions, along with Chapter 24, which contains general advice on preparing for the exam, have been contributed by Tony Johnson, author of a leading PMP exam preparation course series.
The content of this book is aligned with terminology used on the exam. Many chapters have additional exam‐specific content available as video tutorials accessible at www.VersatileCompany.com/FastForwardPM.
END POINT
Every increment of change in our rapidly transforming economies and societies is brought about by a project. As projects dominate the way we work, it is critical to understand project management.
Projects are defined as work that happens one time only and has both a clear beginning and end. This kind of work may be contrasted with the ongoing operations of an organization that involve repetitive work—such as manufacturing or retail—with no defined end.
As our workplace becomes increasingly project‐driven, organizations are investing in the ability to select and manage projects. Managers at every level play a role in creating successful projects. Project managers, in particular, must understand and practice the proven discipline of project management.
Innovation is created through projects, by project leaders who understand the real benefit the project brings to stakeholders. These leaders know their job is more than delivering to specification; they must be conscious of the original business goals that justified authorization of the project.
The purpose of this book is to help you gain these skills. Learn them and you will have every chance of steering a project from its planning stages through to its successful conclusion. For, while employing art and creativity are also important, the tools put forth in this book—the science of project management—provide the foundation for the success of any project.
Stellar Performer: OrthoSpot
Entrepreneurs Leverage Project Management
Entrepreneurs are the ultimate project managers. They start with an idea and create a company. The founders of OrthoSpot knew they were playing against the odds when they set up their company, which offers an Internet‐based inventory management solution to orthopedic surgeons. But they made it. Within a few years they had hundreds of orthopedic practices across 44 states relying on OrthoSpot's distribution network to supply over 60,000 products.
CEO Bill Schafer attributes the company's survival and continued growth to using fundamental project management techniques from the start. “We didn't have any idea how to start a business—how to get funding or bring our product to market.” So the prelaunch months were spent in planning, building a detailed picture of the work ahead of them.
They started with a fundamental question: “What do we have to do to make money?” They built an answer from the top down. “We needed a product, business infrastructure, and sales and marketing distribution structure. Our first three major tasks became: get a business model, raise money, and set up an office.” Shari Cohen, vice president of customer relations, had offered her home's basement as the original offices. “The walls were covered with sticky notes and string, showing all the tasks and what had to be done before what.”
Venture capital is a two‐edged sword for a startup, providing the means for growth but also giving away the future fruits of the founders' innovation. So OrthoSpot used venture capital sparingly, limiting the number of employees who could be brought on board. Schafer relied on the detailed plan to accomplish a lot with a small team. “The early‐stage mentality of overcoming obstacles by intensity can lead you astray if you don't have focus and keep your eye on the objective and allocate resources appropriately.”
Schafer also relied on the plan when making strategic decisions. He found that the new thinking OrthoSpot was bringing to orthopedic practices attracted other opportunities. “When you're changing the way business is done and you're making headway, a lot of opportunities present themselves—for example, do this for cardiologists. But we don't have enough people and hours to do it all, so a focus on the plan keeps energy directed. The payoff is that the team stayed incredibly energized. When they are focused they can do incredible things.”
The early focus on executing against a plan has seeped into every operation at the firm. New product development efforts and system implementations for customers are driven from detailed work breakdown structures (WBSs). “It's in our DNA—project planning and accountability,” says Schafer. As a result, he believes OrthoSpot is positioned to be incredibly competitive. “We compete and win against companies that have a hundred times our capital.”
Orthopedic practices across the United States rely on OrthoSpot to bring efficiency and lower costs, enabling them to offer better value to their patients. OrthoSpot relies on fundamental project planning and execution to serve its growing customer base and enable the OrthoSpot founders to enjoy the fruits of their vision and hard work.
Source: Interview with Bill Schafer.
